Midi file driven sampler, (RXS) is this a possibility if so where should i start?

Im looking for insight on how to execute this idea

At its core function RXS is a hardware version of the Dr Octorex by Reason Studios, a sampler with midi file looper all in one. You press 1 button and a midi clock sync’d .mid file triggers notes C2(36)-G9(127).     

    Most looping stations rely on time stretching algorithms to not change the pitch while changing the tempo. This leads to a stretching stuttering sound effect if the loop is played a slower tempos, which sounds unnatural.     
    The principal idea of RXS is to alter the tempo of a music loop without changing its pitch or otherwise altering its sound. Using Reason Studios Recycle, loops are "sliced" into a series of separate "beats" or "hits". By altering the timing of these slices (or even quantizing them) with out altering the length of them, a loop can play at different speeds whilst using unmodified sounds for each slice or beat/hit. This process preserves the original pitch and sound of the loop while allowing a greater variety of speed/timing tweaks vs traditional stretching algorithms.

Functionality

* receives midi clock
* outputs stereo audio
* Attack Decay Sustain Release Knobs have control over each “hit” or “note”
* Multiple banks can be loaded into RAM to be able to switch on quickly (each bank/folder is as large as 2 megs)
* Banks are tied/altered by Midi Program Change Messages. Change Program Change Message = Change Bank (midi file and samples)
* Midi note ON C1 (24) Starts the midi loop. Midi note OFF C1 stops the midi loop